QuadrigaCX founder could be forced to explain where he got his Rolex
Canadian authorities are petitioning courts to force QuadrigaCX co- found er Michael Patryn to explain how he came to be in possession of 45 gold bars, a diamond-studded Rolex watch, and more than $250,000 in cash. As reported by Bloomberg, the Director of Civil Forfeiture in British Columbia has asked for a court order that would force Patryn to explain the assets which were seized in June 2021 two years after Quadriga’s collapse. A 2020 investigation concluded that the exchange’s 2019 implosion was caused by fraudulent activity committed by the exchange’s other founder, Gerry Cotten. Cotten died in mysterious circumstances while on his honeymoon in 2018. The probe also found that Patryn cut ties with QuadrigaCX after 2016 before the majority of the fraudulent activity took place . However, according to the most recent filing, chat records from 2014 and 2015 appear to show the founders discussing how they could appropriate customer funds and make it look as though Patryn had l...
